## Sports Betting Wiki

#### Sports Betting 101: Types of Bets

Sports Betting 101 – Types of Bets

Point spreads (or lines) enable people to bet close to even money on a favorite or an underdog. Most of these wagers cost \$11 to win \$10, so if you were going to bet one side and you risked \$11, in the event of a win you receive \$21 back. With a loss, you get back nothing.

The lines generally look like this:

• Chicago -5 -110
• Detroit +5 -110

In this example, if you bet Chicago, you would need them to win by 5 in order to cash. You also have to bet \$11 in order to win \$10 (or \$55 to win \$50, \$880 to win \$800, etc.). If you bet Detroit, you would need them to lose by no less than 5 to win, and you would need to bet \$11 to win \$10. If Chicago wins by exactly 5 points, the bet is pushed and all players get their original bet back.

Depending on the amount of money bet on a game, sportsbooks may move the lines to get more bets on a certain side. They may also move the cost.

• New York -8 -115
• Cleveland +8 -105

In this example, you would need to risk \$115 to win \$100 on New York, but you would only need to risk \$105 to win \$100 on Cleveland.

Money Line Bets

Money Line Bets are when you bet a team to win straight up regardless of the spread. These bets often use odds to adjust the action on each game. For example, if Los Angeles is favored to win over Denver, the money line could look like this:

• Los Angeles -150
• Denver +120

In the example above, a bettor would have to wager \$150 to win \$100 on Los Angeles (the favorite). The return for risking \$150 would be \$250 if LA wins. Because Denver (the underdog) is plus money in this example, a bettor would risk \$100 on Denver to win \$120. The total return for betting \$100 on Denver would be \$220 if they win.

Betting the money line is common across all sports, and the line is adjusted based on the amount of money wagered on each side.

If the teams are considered about even, the line could look like this:

• San Antonio -110
• Boston -110

Each bet (similar to spread bets) would require risking \$110 to win \$100.

The money line also reflects big favorites, like this:

• Houston -5000
• Atlanta +4500

In this case, one would have to wager \$5,000 on Houston to win \$100, and a person wagering \$100 on Atlanta could win \$4,500.

Total and Over/Under Sports Bets

Over/Under bets are available for all major sporting events from football to soccer to golf.

Most over/under bets are associated with the total number of points scored in a sporting event by both teams. So if the total bet on Cleveland vs Toronto is 11, the over bet would win if both teams scored a combine 12 points or more, the under would win if both teams combined to score 10 or less, and if the final total is 11, the bet is pushed.

Over/under bets are also available on a single team or time frames. For example, you can bet that the New York Giants will score over 24.5 points for a game or that the Yankees/Red Sox will score under 6 runs in the first five innings.

After spread bets, over/unders are the most popular bets in American Sports.

Proposition Bets

Props, or proposition bets, are bets offered on the outcome of specific events. These wagers can be on sporting events, politics, trial outcomes, the weather – practically anything. The wagers use the money line format of odds and might included details such as who scores the first touchdown in the Super Bowl.

Examples:

• Will Aaron Judge hit a home run tonight? Yes/No
• Who will score more points tonight? Kobe Bryant/LeBron James
• Will Tom Brady throw an interception? Yes/No
• Will Beyonce fall off the stage during the Super Bowl half time show? Yes/No

Future Bets

A future bet is a type of prop bet where you can bet on the outcome of an event that happens in the extended future. These bets can vary in time frames and across sports. Examples of future bets are:

*The number of games Oakland will win this baseball season: over/under 84 (available before the first MBL game of the year)

*Who will win the Super Bowl? (available before the season starts with odds adjusted weekly until the Super Bowl)

Parlay Bets

A parlay is a combination of 2 to more straight wagers placed as one wager. In order to win the bet, all your picks must be winners. This higher risk will result in a greater payout, calculated according to the money lines. If there is a tie or ‘No Action’ among the selections made, the parlay reverts down to the next lowest number for payoff. In the case of a 2-team parlay, it will revert down to a straight wager.

Example:

You want to make a 5 team parlay: Miami -5, New York +3, Seattle -4, New Jersey +7, San Francisco -8

If you bet \$10 and all these games win, you win \$210 at 21/1 odds. If 4 of the games win and 1 of the games is pushed (considered “No Action”), you would wins \$110 at 11/1 odds. If 1 of the games loses, you only lose \$10 because the parlay loses.

Teaser Bets

A teaser bet is a bet where you can move the spread by a set amount in your favor when betting at least two teams like a parlay.

Regular line: Green Bay -3 and San Francisco +5 6 point teaser: Green Bay +3 and San Francisco +11

These wagers are usually only offered for football and basketball. The number of teams selected and the number of points selected determine the payout odds.

As in a parley, all your plays must win to win a teaser except when one or more of your plays tie. In a teaser with 3 games or more, a tie results in a push for that particle game, and the teaser is reduced by that one game (a 4 game teaser becomes a 3 game teaser). If a 2 game teaser has a tie and a winner, then the teaser pushes and there is no action. If a 2 game teaser has a tie and a lose, the teaser losses.

If Bets

An “if bet” is a selection of two straight bets on one betting ticket with an “if” clause. This type of bet allows one to increase their betting power and limit their risk by placing two straight wagers on single ticket where the second bet will only have action if their first bet wins or ties.

An “if bet” will only continue if the first bet made was won or tied, depending on what is specified. The amount on the subsequent bets on an “if bet” can’t be more than the one wagered in the first part.

The bets do not have to happen in the same order of time, so that the second bet can occur prior to the first. Also, you do not have to re-invest all of your winnings in subsequent bets. Instead, you select the amount you want to bet in each game. All picks for the “if bet” must be made at the same time.

Example:

New York Knicks +6 -110 (to win \$100)

IF

Chicago Bulls -4 -110 (to win \$100)

If the Knicks fail to cover, the bet ends there and the bettor loses -\$110. If the Knicks win, the wager continues to the bet on the Bulls. If the Bulls win, the bettor wins \$200 and is paid \$310. If the Bulls lose, the bettor loses \$10 and is paid \$100.

Reverse Bets

A reverse bet is two or more “If bets” where your action is covered both ways. It’s similar to boxing an exacta or lottery numbers.

If you bet a 2 team reverse, you are betting two separate “If bets” as follows:

Bet A – IF – Bet B

and

Bet A – IF – Bet B

Let’s say both bets (A and B) are risking \$110 to win \$100.

If both bets A and B win, the player will win \$400 and get back \$620 (\$400 plus the \$220 risked).

If just one bet wins (A or B), the bettor will lose \$120 (\$110 on the first and \$10 on the second) and get back \$100.

If both bets lose, the bettor will lose \$220.

Round Robin Bets

Similar to reserve bets, Round Robins allow players to “box” parlay bets. These can by used if you like multiple bets but do not want to wager them in a single parlay.

Example (using 3 teams):

Parlay 1:

• Seattle SuperSonics
• Washington Wizards

Parlay 2:

• Seattle SuperSonics
• New Jersey Nets

Parlay 3:

• Washington Wizards
• New Jersey Nets

Round Robin Bets are usually worse odds than betting each team straight up.

#### Sports Betting 201: Industry Basics

How Sportsbooks and Bookies Profit

Sportsbooks generally profit by taking an equal amount of bets on both sides of a game. This means that they look to get the same amount of money bet on one team as the other team. The fee for taking the bets is either the difference in the money line or the vig in the spread (-110). This is where sportsbooks and bookies make their profits.

For example, Baltimore is a 5 point favorite over Miami. The Spread would be Baltimore -5 and Miami +5. In order to bet either side, a player must be willing to risk \$11 to win \$10. By taking an equal amount of bets on each side, the sportsbook is in effect charging the players betting the losing side an extra dollar. When the game is over, and lets say Miami wins, a player who bet \$10 on Miami gets bet \$21 (the \$11 risked and the \$10 won) while the player who bet on Baltimore loses \$11. The sportsbook then makes \$1 on this transaction, the \$11 lost by the Baltimore backer less the \$10 won the Miami bettor.

Most people think that this is how bookies profit too, but in reality bookies often use several different methods to increase their profits above and beyond the \$1.

Many local bookies may shave points to increase their odds. Shaving points is when the bookie knows that one team is going to get more bets than the other. Let’s say you live in New York and the line national line on the Giants is -3. Most likely if you tried to place a bet with a New York bookie, he’s spread would be -3.5.

The same is true for money line bets. Again you are in New York and want to bet the Yankees. While they may be favored nationally and the money line is -180, a New York bookie might charge you -240.

Bookies also shave points against the favorites simply because more players are known to bet the favorite than the underdog especially for big events such as March Madness or the Super Bowl.

Additionally, bookies may begin to remember certain players and adjust the line for each individual. If a bookie begins to notice that you always bet a certain team or never bet unders, they may begin to adjust there lines just for you in order to give them an added advantage. This means that 3 other players may have the Giants over 45, but because the bookie remembers you, he tell you line the is 45.5 knowing that you will most likely bet the over and not the under.

Parley Cards: Many local bookies also offer parlay cards to their clientele. These cards are offer the spreads on all the weekend’s games, and a bettor must pick at least 3 games in order to bet. These cards work as a normal parlay except that the payouts are far that from sportsbooks and even farther from the true parlay odds. While most bettors don’t bet much on these cards, bookies profit heavily from them. Additionally, some bookies shave points on these cards to protect themselves. This is when a team is favored to win by 3, but on the card the spread is -2 or +4. Now if the game is decided by 2 to 4 points, it’s considered a push and the players winnings are lessened by that 1 game.

To see more about parlays, check out Sports Betting 101 – Types of Bets

The spread is created and originates out of Las Vegas. Las Vegas Sports Consultants is the primary provider of sports betting lines. This company attempts to put themselves in the shoes of the sports bettor to create a line that will get an equal amount of action on both sides of a bet. Factors they consider are power rankings, location, injuries, trends, public perception, weather, and current history/streaks.

Today all analysis is run through formulas to determine the spread. In football, the next week’s spread is released after the last game on Sunday. In basketball, baseball and hockey, lines are usually released overnight.

Power Ranking: The power ranking is used to create the original spread. If one team is ranked higher than the other, this team will initially be favored.

Location: A team is given points for playing at home. This can be about a 3 point move in football depending on the opponent. Factors to consider are natural grass teams, dome teams and climate.

Injuries/Starters: Player injuries are considered. A injured quarterback is considered a vital part of a team and could adjust the line 3 points while an injured linebacker may not move the spread at all. In baseball, starting pitching has a strong influence on the line and is considered in the power rankings.

Trends are important in rivalries when one team historically beats another and the line is adjusted accordingly.

Public perception is considered when the betting public likes to bet on one team or against another. Points may be added to public teams (i.e. New England Patriots) or against unpopular team (i.e. Kansas City Royals).

Weather is considered for outdoor games. In football, bad weather is considered to favor home teams, strong defense teams and under bets.

Current history: When a team is hot, bettors tend to follow it and the spread is adjusted accordingly.

Line Movement

Sportsbooks generally profit though taking equal action on both sides of a game. This means that they look to get the same amount of money bet on one team as the other team. The fee in taking the bets, either the difference in the money line or the vig in the spread (-110), is where they make their profits.

Line movement is essential to sports betting. It is a game that begins immediately after the line makers create the opening line (or virgin line).

The spread opens in Las Vegas and on the internet. This is when the game begins. Handicappers immediately start betting spreads that they see as weak. If a line is 3 and these early birds think that it should be 6 or 7, they will bet the favorite fast and hard.

Sportsbooks don’t hope for, but expect, this early action to help firm the line. If this action is equal on both sides, the line is good and will not move. If the action is bias to one side, these handicappers will continue to bet it until the line is corrected or until they have reached they’re limit of risk on that particle game. During this time, the line correction comes fast as the sportsbooks will adjust the spread on these early lines until they get equal action on both sides. A spread may move from 3 to 3 ½ to 4 to 4 ½ before there is an equal amount of bets coming in on both sides. Once the line is firmed up, it will not move much until game time, but it still can.

In football, sports bettors have a whole week to bet on games. This is a week in which new information becomes available daily. Sports Illustrated puts a team on their cover, injury reports are released, weather reports become more accurate, and paid handicappers release their picks to the public. All these things (and more) have an influence on the sides (and the over/unders) that are bet.

Similar to the opening line, if sportsbooks receive more money on just one side of the spread during the week, they will adjust the line. This is a much slower process as bets come slowly during the week, and sportsbooks don’t like to move the line once it has been set originally. Unless a team has a major injury or venue change, the spread should not move at this point 95% of the time.

The last period is which the line can move is on game day. Big bettors that did not hammer the opening line often place their bets a few hours up to 15 minutes before game time. These players come with a lot of money and want to get the most accurate information available before the game starts. They don’t have to depend on inaccurate weather or injury reports as they can see what is happening that day. This last minute action can be large enough to move the line right up until game time.

As you can see, the spread can move at any time, but the movement is much slower during the week. Early and late line movement is mostly attributed to action coming from expert handicappers while line movement through out the week is most probably due to public money. Once the game starts, the betting is closed and the line set.

Parlay Sportsbook Odds and True Odds

A parlay wager is a bet on two or more games that pays higher odds than betting on the outcome of both events. The drawback is that the odds aren’t right and that if one selection loses the whole parlay is a loss.

Number of plays Sportsbook Odds True Odds
2 plays 13-5 3-1
3 plays 6-1 7-1
4 plays 10-1 15-1
5 plays 20-1 31-1
6 plays 40-1 63-1
7 plays 80-1 127-1

The more events parlayed, the worse the odds shift in the casinos advantage. The advantage to the sports bettor is that parlays give you leverage to win more money on two teams who are playing at the same time.

Teaser Sportsbook Odds

A teaser bet is a bet on two or more games that allows bettors to adjust the spread. These bets are available for football and basketball. See the different odds below:

Number of Teams 6/4 points 6.5/4.5 points 7/5 points
2 plays 11 to 10 10 to 12 10 to 13
3 plays 9 to 5 8 to 5 3 to 2
4 plays 3 to 1 5 to 2 2 to 1
5 plays 5 to 1 4 to 1 7 to 2
6 plays 7 to 1 6 to 1 5 to 1
7 plays 10 to 1 9 to 1 8 to 1
8 plays 15 to 1 12 to 1 10 to 1
9 plays 20 to 1 15 to 1 12 to 1
10 plays 25 to 1 20 to 1 15 to 1

Sports Betting Terms

Action – A wager or bet of any kind; having action means having a bet.

Against the Spread (ATS) – To bet against the spread is to make a wager that will be decided by adding points to one team or the other after the game is played.

Agent – A middleman who places players into a sports book for a commission.

Arbitrage – An arbitrage is a combination of bets so that if one bet loses another wins. There is an implication of having an edge, at no or low risk. The second bet hedges the first.

Back Door Cover – Meaningless points scored to cover the spread, by a team that is likely to lose

Bad Beat – A tough loss, e.g., when unwanted points are scored against your wager in the dying seconds of an event, or your horse loses by a nose, after leading all the way.

Book – A sports book or betting establishment that sets odds and accepts wagers on the outcome of sporting events.

Bookie (Bookmaker) – A person, house or organization that takes players’ bets.

Bonus whore – A player who opens an account in an online sports book, poker room, or casino in order to get a bonus with no intention of playing long-term.

Chalk – The favored team, side, contestant or horse in a sports event.

Cover – To win against the spread.

A Dime – The sum of \$1,000.00.

Dime Line – Less than the standard 20-cent line, the “dime line” is sometimes offered in baseball by player friendly sportsbooks. The dime line charges only half the juice of standard football/basketball bets.

Dog – A term for underdog, Alpo or puppy, i.e., the contestant or team that gets the points.

A Dollar – The sum of \$100.00.

Edge – The advantage in any wager.

Even Money – A wager where neither side lays any odds, both sides bet \$100 to win \$100.

Exotic Wager – Action other than a straight wager, e.g., teasers, futures, round robins etc.

Favorite – The team expected to win.

Fixed – A slang term referring to the outcome of a race, contest or game that has been illegally pre-determined.

Futures – A type of wager made, or lines/odds posted, on an event, or outcome, that will be determined sometime in the future, e.g., betting during the season on which team will win the Super Bowl, World Series, NBA Championship or Stanley Cup etc.

Handicapper – A person who analyzes, studies and rates sporting events.

Hedge – To bet the opposite of an original bet to offset the possible loss on the original action.

Hook – A half point added to football and basketball point spreads, as in 3.5 or 3 and a hook. Bettors “buying the hook”, are paying extra odds to move the spread by an extra ½ point.

Hooked – The loss of a wager by exactly a half point.

Juice – The amount charged by the bookmaker for taking bets.

Lay the Points – a wager on a favorite in a point spread event.

Lay the Price – a wager on a favorite in a money line event.

Line – Refers to the listed odds, points, money line or point spread for any given event.

Linemaker – the person who establishes the original and subsequent betting lines for an event.

Longshot – An extreme underdog.

Middle – Winning both sides of the same betting proposition. Placing a wager on the favorite team at -2 1/2 with one sportsbook, then taking +3 1/2 with another sportsbook. When the game ends up with the favorite winning by exactly 3 points, the player has middled the game. Middling is a favorite betting method of wise guys.

Money Line – Odds strictly on the straight-up game outcome with no consideration for a point spread.

Neutral Sites – The site of a sporting event where neither team has home-field advantage.

Newspaper Line – The lines that appear in various daily newspapers.

A Nickel – A \$500.00 wager.

Odds – The likelihood of an outcome occurring, stated in number form.

Oddsmaker – Same as the linesmaker, i.e. the person who establishes the original and subsequent betting lines for an event.

Overlay – The odds of a wager are higher than they should be, and tend to favor the player rather than the house.

Over/Under Bet- Over/Under is a bet on the combined scores or total points scored by both teams in a game.

Parlay – A bet on two or more teams, or outcomes, in no particular order, where all selections must win for the player to be successful. All teams wagered on in a parlay must win to ensure a payoff.

Parlay Card – A set of sides, totals, and prop bets printed on a card. The numbers on the parlay card apply only to bets on the card and could be different from bets listed on the board. You will need to select at least three bets if you want to play the card.

Past Performance – an accurate record of the performance of specific teams, horses or contestants when participating in sports events similar to those scheduled.

Past Post – A bet made after a sporting event has started. Term originated from “post time” for horse racing.

Pick or Pick’em – a game where no team, or betting option, is favorite.

Point Spread (or Spread) – Used to even the odds of a particular sporting event. Each team has points either added to its score, or subtracted from its score, to determine if the bet is a winner.

Power Ratings – Numbers that handicappers assign to teams to estimate how likely one team is to beat the other.

Press – To wager a greater amount than usual.

Price – The money line odds or point spread on the favorite of a sports event.

Proposition Bet – A wager on a specific aspect of an event such as the number of field goals, free throws, etc., that will be made.

Public Money – The money that the public is betting on or action coming from unsophisticated bettors or squares. Public bettors possess no special information, but rather bet based upon information available in newspapers and TV preview shows.

Push – A tie between the player and the sportsbook where the final score of a game is exactly the same as the point spread, or the total points (combined scores of both teams). This bet has no action.

Revenge Game – A team playing an opponent who beat the team in their previous matchup – therefore the team would like to “revenge” the loss.

Rundown – A line (or spread) update.

Run Line – A line used when wagering on baseball. The line adds 1.5 runs to the underdog and subtracts 1.5 runs from the favorite.

Runner – A messenger player who places a bet for another.

Scalper – One who attempts to profit from the differences in odds, from book to book, by wagering both sides of the same game at different set prices.

Scout – A person who studies the performance and potential of teams, horses or contestants, in or out of play, and reports the pertinent findings to handicapper(s).

Sharp Bettor – A player who has an edge due to his superior knowledge.

Side – To bet on a single team to win a game against the spread (ATS).

Smart Money – Money wagered on a side by knowledgeable handicappers.

Soft Line – A wagering line that is not current with the true posted line, that is, a line that has been adjusted, or moved, as a result of action, but does not reflect the true line as posted.

Sportsbook – A person or company that accepts bets.

Square – An unsophisticated player.

Stake – money used to wager on the success or failure of a particular event.

Straight Up – Winning on the scoreboard without any regard to the point spread.

Straight Wager – A single straightforward wager on a selected side, or over/under. The team wagered on must win by the point spread given at the time of the wager.

Sucker Bet – A wager that overwhelmingly favors the bookmaker or house.

Syndicate – A group of people making a combined effort to win money betting sports.

Take the Points – A bet on the underdog so that the bettor “takes the points” in the point spread.

Tapped Out – a condition experienced by players who are broke (busted).

Teaser – A bet on two or more teams where the line on each team is adjusted in favor of the player.

Ten Cent Line – The money line difference (10 cents) between what a player bets with the favorite, or takes back with the underdog.

Toke – A tip or gratuity.

Total – The total is a number set by the sportsbook for total points to be scored by both teams during a game.

Tout – Tout – A person who either sells or gives away his selections on games, races or contests.

Trend – Using past game results to predict future results.

Twenty Cent Line – The money line difference (20 cents) between what a player bets with the favorite, or takes back with the underdog. These odds are worse than the 10 cent line.

Underdog – The team, side or contestant in any given event considered to be the least likely to win.

Underlay – The odds of a particular wagering proposition are lower than they should be, that is, they favor the house.

Upset – A straight-up win for an underdog against a favored opponent.

Value – Getting the best odds on a proposition, the highest possible edge.

The Vig – The sportsbook’s commission (same as the Juice).

Wise Guy – A well-informed, knowledgeable, and successful sports handicapper or player.

#### Sports Betting 301: Tips and Strategies

How to Profit

This article attempts to explain of how to profit at sports betting. This is a starting point, but far from the ending… There is a lot to learn that is not covered by this lesson. But if you stay focused and keep learning, and you could end up a winner.

The first thing to know (and follow) is never to bet over your head (or more than you can afford to lose). Money management is cover elsewhere, but just like every form of gambling, betting your rent is too much to risk and it will come back to haunt you. By doing it once, it’s easier to do it twice, and you will eventually get burned.

Following that train of thought, the most important point for new sports bettors to know is to never chase losses. Chasing losses is the act of increasing your bet size when you are on a losing streak in order to try to break even. Doing this causes many sports bettors to go bust before they can even get going and often leads people into betting over their head. See the trend?

Examples of chasing loses happens every weekend during football season. Every weekend, some guy bets 3 football games and loses all three. Let’s say he bets \$500 on each which is a decent amount of money for him. This same guy will then drop \$1,500 on the money night game trying to get back to even. Half the time, this guy will lose and be out \$3,000 instead of just \$1,500. Avoiding this pitfall will save you a lot of stress and money.

Now that we mentioned losing, lets talk about winning. In order to win money in sports betting (assuming that your bets are \$110 to win \$100), you will have to win 52.4% of your bets. For you math geniuses out there, it is calculated as 110/(110+100). This is the win rate needed when you bet on football sides and over/unders.

These odds vary between sports and even games. If for example you bet just baseball, the percentage of games that you will need to win in order to profit will vary depending on the odds that you are betting. If you bet mostly underdogs, you will need a lesser win percentage than if you bet most favorites. Because of this, it’s possible to be a long-term winner while winning less than 50% of your bets by betting underdogs.

A great public misconception is that professional sports bettors win between 60% to 70% of their bets. This is just false. Professional sports bettors lose almost as much as they win, but because of the volume and size of their bets, they can make a nice living cashing anywhere between 54% to 57% of their tickets.

So take it slow, protect your money and don’t expect to win every game. Hot and cold streak happen to everyone, but by staying focused and perfecting your techniques, you can become a winner in the long run.

Money Management

Winning sports bettors are winners because they exercise proper money management.

Take a minute to let that sink in.

Money management is the process that a bettor uses to determine the size of a bet (or multiple bets), and it’s essential to winning in sports betting. There are many different money management systems, and winning bettors often use different varieties of systems. The key is that they have a system that they stick too. Without a firm system in place, the temptation to chase loses or bet it all on a “sure thing” is so great, that most players will eventually do one of these things and lose their entire bankroll or/and more.

Step 1: Create a bankroll. A bankroll is a set amount of money that a gambler has set aside for wagering. 99.9% of winning sports bettors have a bankroll that is used strictly for sports betting. This roll can be \$100 or \$1,000,000 and the amount a player wagers is usually determined by the size of their roll.

Step 2: Determine the size of your betting unit. This is needed in developing your money management strategy. A unit can be a fixed amount of money (like \$100), but more often it is a set percentage of a bettor’s bankroll. By making a unit a percentage of you bankroll, the amount of money you bet will increase when you are winning and decrease when you are losing. It is also much harder to go bust. A standard unit is usually between ½% to 3% of a bettor’s bankroll.

Step 3: Determine your money management strategy. Money management strategies vary and the most important part of a strategy is having one and sticking to it. Bettors may opt to bet a set amount of money (1 unit) on every bet, or they many vary their betting amounts depending on their perceived value of a bet. Varying bet sizes should only be used by experienced handicappers.

Examples of money management strategies:

Every bet is 1% of the bettor’s total bankroll.

Every bet is \$1,000.

Value is determined for each bet on a 1 to 5 scale. A bettor wagers 1 unit (½%) on a bet with a value of 1, 2 units on a bet with a value of 2… 5 units on a bet with a value of 5.

Keeping a Record

Winning sports bettors are winners because they exercise proper money management.

Take a minute to let that sink in.

Money management is the process that a bettor uses to determine the size of a bet (or multiple bets), and it’s essential to winning in sports betting. There are many different money management systems, and winning bettors often use different varieties of systems. The key is that they have a system that they stick too. Without a firm system in place, the temptation to chase loses or bet it all on a “sure thing” is so great, that most players will eventually do one of these things and lose their entire bankroll or/and more.

Step 1: Create a bankroll. A bankroll is a set amount of money that a gambler has set aside for wagering. 99.9% of winning sports bettors have a bankroll that is used strictly for sports betting. This roll can be \$100 or \$1,000,000 and the amount a player wagers is usually determined by the size of their roll.

Step 2: Determine the size of your betting unit. This is needed in developing your money management strategy. A unit can be a fixed amount of money (like \$100), but more often it is a set percentage of a bettor’s bankroll. By making a unit a percentage of you bankroll, the amount of money you bet will increase when you are winning and decrease when you are losing. It is also much harder to go bust. A standard unit is usually between ½% to 3% of a bettor’s bankroll.

Step 3: Determine your money management strategy. Money management strategies vary and the most important part of a strategy is having one and sticking to it. Bettors may opt to bet a set amount of money (1 unit) on every bet, or they many vary their betting amounts depending on their perceived value of a bet. Varying bet sizes should only be used by experienced handicappers.

Examples of money management strategies:

Every bet is 1% of the bettor’s total bankroll.

Every bet is \$1,000.

Value is determined for each bet on a 1 to 5 scale. A bettor wagers 1 unit (½%) on a bet with a value of 1, 2 units on a bet with a value of 2… 5 units on a bet with a value of 5.

Betting on Baseball

Baseball is one of the best sports to handicap and win. In fact many sportsbooks are happy to just breakeven during baseball season, yet most people don’t bet this sport for various reasons.

One reason is that most people don’t understand how to bet on baseball. With the run line, daily games, and odds changing drastically game to game, everyday bettors without experience may be intimidated and have a hard time understanding why a team is heavily favored 1 day and the underdog the next.

Another reason that baseball betting is not as popular is that it takes a lot of work to study the teams, pitchers, weather, etc. and most people don’t have the time or patience. Unlike football, where there is a week to study each game and make a decision, sometimes there is less than a 24 hour window to analysis and bet a baseball game, and there can be 15 games a day.

Those reasons aside, this lesson is going to try to teach you the basics to betting baseball as it can be one of the most profitable sports to bet.

Types of Bets:

The Baseball Money Line – Like hockey, there is no spread available in baseball, so most action takes place on the money line. When betting the money line, you can specify whether the listed pitchers must start, 1 list pitcher must start, or action. If you bet that the listed pitchers must start, and one doesn’t, your bet is pushed and no action takes place. If you bet team action, your bet has action no matter who starts the game.

Baseball Totals – This are the same as over/unders in any sport. Extra innings (just like over time) count toward the total. Both listed pitchers must start the game for the total to have action.

The Baseball Runs Line – The run line adds 1.5 runs to the underdog (+1.5) or subtracts 1.5 runs from the favorite (-1.5). The odds of the run line are adjusted so that the favorite in the game usually become plus money. In order to the favorite to win, they must win by 2 or more runs. If the favorite wins by only 1 run or losses, the bet goes to the underdog.

Handicapping Basics:

Pitchers – The factor that has the most influence over a game’s odds is that games pitching match up. Any team with a good, veteran pitcher facing a call up rookie will be favored.

Lineups – Teams with superior lineups have the best chance at scoring runs and winning games, but due to player injuries and rest time lineups change daily. It’s important to know the probable changes to the day’s line up before betting on a game.

Stadiums – Any good fantasy baseball player can tell you which baseball parks favor pitchers and which favor hitters. These parks historically have more or less runs scored in them do to factors like stadium size or atmosphere. Pitchers’ parks and hitters’ parks are important factors to consider when betting both totals and sides.

There are many other factors to consider when betting baseball, but these mentioned will get you started. Good Luck.

Handicappers/Touts

There are a lot of handicappers that sell their picks online, over the phone, or in weekly pick sheets. While a few of these handicappers are legit and may or may not have a winning record, the majority of them are not. What we mean by “not legit” is that they are losing handicappers, who specialize in selling their picks to make a living. These guys often target degenerate gamblers who can’t resist the action of betting a “300 star pick” or a “lock of the year.”

Once they get you phone number, they often call relentlessly and use hard sales pitchers such as “You are a loser. You need me to win,” and others. It’s important to know that these guys are selling picks that they don’t bet and might not even like. They make their money selling the picks, not playing them. Some of these touts have been known to tell half their players to bet 1 side and half their players to bet the other. This way, they are guaranteed to keep a half of their customers while marketing for new ones. These touts might even have web casts, radio shows and TV shows.

A good way to spot evil touts is to look at their advertised winning percentage. If it is 65% or better season over season, they are lying. No one wins at those levels, and anyone who did would just bet their picks instead of selling them and risking have sportsbooks adjust to methods.

Even paying for picks from legitimate handicappers can be an uphill battle. Let’s say a bettor finds a handicapper who sells winning picks. Problems arise in 2 main areas.

The first is that you will have to bet and win enough to cover cost of the picks. For example, lets say a tout will sell you his picks for 10% of you winnings. This charge changes the winning percentage that you need to profit in long term sports betting from 52.4% to 57.1%, an almost impossible winning percentage.

The second is hurdle is line movement. The tout may release his picks to the world and as soon as they hit the street, people are betting them. If big enough, this action can move the line and you will not get the same price that the handicapper has. This will move your winning rate off of the touts, and will cost you additional money in the long run. Even if the handicapper has only 2 customers and his action doesn’t move the line at all, the line can still move between the time the pick is released and the time that you bet it.

With the internet, several handicapping monitoring organizations and sites have appeared and most respected touts register and pay to be monitored. This enables handicappers to show customers what their actual winning percentages are from a third party. The only problem with this is that touts have found ways around this by registering several different names and selling the one with the best current streak. But if you find a handicapper that you can trust, as to see his third party monitored stats.

#### Sports Betting 401: Advanced Sports Betting Theories

History and Trends

Trend betting is when a sports bettor uses trends to handicap picks. In this method, a bettor would look for circumstances where the outcome of a game drastically favors one team. For instance, a few years back, betting in the NFL against a team that was playing their 3rd straight road game was a popular and winning trend. The lines makers now take this trend into account when creating the spread.

Some bettors and most touts rely heavily of this method for picking games. Trends appear to appeal to most bettors because they are historical facts that tell you to like one team or the other. Additionally, having a trend can take the work out of handicapping two specific teams strength and weaknesses. It can be used as a shortcut, and this is probably why it is so popular with touts.

The reality of it is that most trends can be countered with another trend that tells you to bet the exact opposite way. An example could look like this:

Dallas -3 @ Washington

• Home team covers 10 of the last 11 times these teams met – favors Washington
• Dallas cover 8 out of the last 9 times it was favored by 3 – favors Dallas
• Washington is 7 of 9 ATS after a double digit loss – favors Washington
• Washington is 2 of 14 ATS as an underdog playing a division rival at home – favors Dallas

These trends can go on and on with no apparent winner, but people trend to stop looking once they find a couple trends that favor the team that they want to bet. I’m sure that there are a few winning handicappers that have used trends to their benefit, but out of how many?

In conclusion, trends should be taken with a grain of salt. There may be a few trends that will win overtime, but finding them would be nearly impossible. It’s much more reliable to do your own research to handicap a game while considering current factors than to rely of trends.

Sports betting spread and odds are adjusted for home field advantage. In football, the home team can get an extra three points in spread just for playing at home. Home teams are also favored in basketball, baseball, and just about every sport that has a home team.

Everyone knows that the principle behind this is that the home team is more comfortable playing in their own stadium with the support of their own fans. The edge is big in the NFL and could be even bigger in other sporting events, such as the World Cup.

The 2006 World Cup was played in Germany, this was a huge advantage for the German team that got much farther than anyone expected. While other teams had to leave their friends and family at home for weeks and live out of hotels, the German players were hours away from their homes and familiar with every city that they played in. Furthermore, all the locals spoke their language and every German was behind them. This kind of home field advantage can not be underrated, and Germany won their group, made it to the semi-finals, and finish third overall. There were long odds for them to get that far.

Germany’s coach, Jurgen Klinsmann, said, “What this team achieved during the tournament is incredible. For the last seven or eight weeks every single day was emotionally charged.” This emotional charge had to be easier to maintain playing in your home country in front of your own fans.

In most cases, home field advantage is already calculated in the price and spread. The Journal of Economics and Business ran an article summarizing research from the University of North Carolina, in which three professors studied “a bias in the pricing of the home field advantage”. At the end of their study, they found, “little evidence of a mispricing of the home field advantage in either regular season or playoff games,” in football, basketball and baseball.

Basically, the home field advantage does exist, but in most cases it is correctly priced into the odds. Therefore, the myth that betting only home teams can be profitable is false, but there are still opportunities where betting a team is profitable by recognizing circumstances similar to those experienced by Germany.

This material was provided free of charge by the SportsBetting sub on Reddit